Private Ocean LLC Lowers Stock Position in The Boeing Company (NYSE:BA)

Private Ocean LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,293 shares of the aircraft producer’s stock after selling 73 shares during the quarter. Private Ocean LLC’s holdings in Boeing were worth $250,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Boeing by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock valued at $12,642,519,000 after purchasing an additional 892,446 shares during the period. Capital Research Global Investors boosted its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Morgan Stanley boosted its stake in shares of Boeing by 1.1% in the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after purchasing an additional 91,801 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Boeing by 1.1% in the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after purchasing an additional 52,081 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of Boeing stock opened at $182.01 on Friday. The firm’s fifty day simple moving average is $178.50 and its 200-day simple moving average is $198.42. The stock has a market capitalization of $111.73 billion, a price-to-earnings ratio of -51.27 and a beta of 1.55. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Analysts anticipate that The Boeing Company will post -1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BA shares. Robert W. Baird lowered their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Sanford C. Bernstein reduced their target price on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Melius Research reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Bank of America raised their target price on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.